EXHIBIT 9 (C)
THE XXXXXX TRUST
SHAREHOLDER SERVICE PLAN
January 3, 1996
This Shareholder Service Plan (the "Plan") is adopted by The Xxxxxx Trust
(the "Trust") with respect to the shares of beneficial interest of each of the
series of the Trust identified in Appendix A hereto (individually a "Fund" and
collectively the "Funds").
SECTION 1. ADMINISTRATOR
The Trust has entered into an Administration Agreement (the "Agreement")
with Forum Financial Services, Inc. ("Forum") whereby Forum provides certain
administrative services for the Trust and for each Fund.
SECTION 2. SERVICE AGREEMENTS; PAYMENTS
(a) Forum is authorized to enter into Shareholder Service Agreements
(the "Agreements"), the form of which shall be approved by the Board of Trustees
of the Trust (the "Board"), with financial institutions and other persons who
provide services for and maintain shareholder accounts ("Service Providers") as
set forth in this Plan.
(b) Pursuant to the Agreements, as compensation for the services described
in Section 4 below, Forum may pay the Service Provider, on behalf of the Trust,
a fee at an annual rate of up to 0.25% of the average daily net assets of each
Fund represented by the shareholder accounts for which the Service Provider
maintains a service relationship.
PROVIDED, however, that no Fund shall directly or indirectly pay any
amounts, whether Payments (as defined in the Agreements) or otherwise, that
exceed any applicable limits imposed by law or the National Association of
Securities Dealers, Inc.
(c) Each Agreement shall contain a representation by the Service Provider
that any compensation payable to the Service Provider in connection with an
investment in a Fund of the assets of its customers (i) will be disclosed by the
Service Provider to its customers, (ii) will be authorized by its customers, and
(iii) will not result in an excessive fee to the Service Provider.
SECTION 3. SHAREHOLDER SERVICE FEE.
Pursuant to this Plan, the Trust shall daily accrue and monthly pay Forum a
Shareholder Service Fee not to exceed (i) 0.25% per annum of the average daily
net assets of each Fund or (ii) the combined Payments made by Forum with respect
to each Fund for the month.
SECTION 4. SERVICE ACTIVITIES
Service activities include (a) establishing and maintaining accounts and
records relating to clients of Service Provider; (b) answering shareholder
inquiries regarding the manner in which purchases, exchanges and redemptions of
shares of the Trust may be effected and other matters pertaining to the Trust's
services; (c) providing necessary personnel and facilities to establish and
maintain shareholder accounts and records; (d) assisting shareholders in
arranging for processing purchase, exchange and redemption transactions; (e)
arranging for the wiring of funds; (f) guaranteeing shareholder signatures in
connection with redemption orders and transfers and changes in shareholder-
designated accounts; (g) integrating periodic statements with other shareholder
transactions; and (h) providing such other related services as the shareholder
may request.
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SECTION 5. AMENDMENT AND TERMINATION
(a) Any material amendment to the Plan shall be effective only upon
approval of the Board, including a majority of the trustees who are not
interested persons of the Trust as defined in the Investment Company Act of 1940
(the "Disinterested Trustees"), pursuant to a vote cast in person at a meeting
called for the purpose of voting on the amendment to the Plan.
(b) The Plan may be terminated without penalty at any time by a vote of a
majority of the Disinterested Trustees.
SECTION 6. LIMITATION OF SHAREHOLDER AND TRUSTEE LIABILITY
The Trustees of the Trust and the shareholders of each Fund shall not be
liable for any obligations of the Trust or of the Funds under the Plan, and
Forum agrees that, in asserting any rights or claims under this Plan, it shall
look only to the assets and property of the Trust or the Fund to which Forum's
rights or claims relate in settlement of such rights or claims, and not to the
Trustees of the Trust or the shareholders of the Funds.
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THE XXXXXX TRUST
SHAREHOLDER SERVICE PLAN
APPENDIX A:
FUNDS TO WHICH SHAREHOLDER SERVICE PLAN APPLIES
January 3, 1996
Xxxxxx Income Equity Fund
Xxxxxx Approved List Equity Fund
Xxxxxx Government Securities Fund
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